Nike shares slides 8.5% on weak revenue outlook
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Nike (NYSE:NKE) shares fell 8.5% to $32.15 premarket after the sportswear company forecast a high-single-digit fiscal 2027 revenue decline following first-quarter sales of $11.21 billion.
Nike (NYSE:NKE) shares fell 8.5% to $32.15 premarket after the sportswear company forecast a high-single-digit fiscal 2027 revenue decline following first-quarter sales of $11.21 billion.
Nike (NYSE:NKE) reported fourth quarter fiscal 2026 revenue of $11 billion, down 1% on a reported basis and down 4% on a currency-neutral basis.
Nina Trentmann, Senior Editor at Bloomberg News, discussed the recent appointment of Dave Denton, formerly Pfizer's CFO, as Nike's new Finance Chief. While some analysts have expressed concerns about Denton's lack of direct retail and apparel industry experience, Trentmann noted that for large companies like Nike and Pfizer, deep industry knowledge may be less critical than experience managing a complex, global business with a significant market capitalization and extensive supply chains. She speaks with Romaine Bostick & Katie Greifeld on "The Close."
Bloomberg Opinion's Andrea Felsted assesses the outlook for the sportswear market and how the football World Cup impacts competition between Nike Inc. and Adidas AG. Felsted speaks on Bloomberg Television. Her views are her own.
Poonam Goyal of Bloomberg Intelligence joins Bloomberg's Paul Sweeney and Alexis Christoforous to preview Nike earnings. Nike investors will look for further signs of progress in the company's comeback effort as Chief Executive Officer Elliott Hill cements a leadership reset. Traders will also seek details about one-time tariff refunds and demand tied to the FIFA World Cup.
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